Mapping Out Polychain Capital Portfolio

Polychain Capital, founded in 2016, is one of the original crypto-native hedge funds to come onto the scene, investing in numerous early-stage startups and protocols. Founded by Coinbase's first employee, Olaf Carlson-Wee, the fund attracted investment from prominent venture capital firms, including Andreessen Horowitz, Union Square Ventures, and Sequoia Capital.

Based in San Francisco, the fund believes in blockchain technology, incentive systems surrounding this field, and technical teams building these ecosystems. Polychain Capital has raised at least $375 million to support these initiatives. Since 2017, Polychain Capital has participated in 196 deals for 150 unique companies, with most investment activity happening during the 2021 mania season. Since then, just like the broader venture capital market, Polychain funds have been deploying capital less aggressively.